Philippines' NEDA okays P150 bil. infrastructure projects

The National Economic and Development Authority (NEDA) approved recently four new infrastructure projects with a combined project cost of P149.12 billion.

The approved projects are the P122.81 billion Laguna Lakeshore Expressway-Dike project; the P14.62 billion Laguindingan Airport Development, Operations and Maintenance (O&M) project; the P9.35 billion bid of the Light Rail Manila Consortium for the LRT Line 1 South Extension project; and the P2.34 billion New Bohol Airport Development O&M project.

Socioeconomic Planning Secretary and NEDA director general Arsenio M. Balisacan said the timely approval of the infrastructure projects are in line with the Updated Philippine Development Plan 2011-2016.

“The approval of these new infrastructure projects is a timely contribution to the improvement of the country's connectivity and efficiency, mitigating disaster risks, supporting agricultural production, and pursuing energy and water security,” he said.

Balisacan added that these projects are aligned with the government's overall strategy of increasing public infrastructure spending for the country to provide Filipinos with quality, adequate, and accessible infrastructure facilities and services. Funding for all the projects will fall under government's Public Private Partnership (PPP) program.

The NEDA board, chaired by President Aquino, confirmed the Infrastructure Committee's approval of the Transport Development for Metro Manila and its surrounding areas (Regions III and Calabarzon).

The roadmap will serve as guide in the development of policies, prioritization, and design of programs and projects, as well as harmonize all efforts, realize synergy and improve coordination among transport agencies.

The NEDA Board approved the bid of the Light Rail Manila Consortium for the LRT Line 1 South Extension project.